Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

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Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Sydney Apartments

The Sydney CBD is set for a new mixed-use residential and office development.

Fife Capital, the alternative asset manager led by Allan Fife, has lodged plans for two towers in the heart of the CBD, one residential and one commercial&nbsp;at 114-120 Castlereagh Street and 139 Elizabeth Street.

Fife paid $46 million for the two sites last year&nbsp;when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.

114-120 Castlereagh, currently home to George Bosch Chambers,&nbsp;spans eight storeys and dates back to the mid 1920s. The St James Hotel currently occupies the lower ground, ground and first level.

That building will stay, with GML Heritage stating the building is culturally significant and should be retained and conserved, despite no heritage overlay of the 1920s-built building which underwent a renovation in the mid-1980s.

139 Elizabeth, to the rear of the Castlereagh building fronting Hyde Park, is a four-storey masonry building. With no significant enough heritage or streetscape impact, 139 Elizabeth will be demolished and make way for the 17-level apartment tower, which will home just 26 luxury apartments.

<img alt="" height="932" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_location_2.jpg" width="1200" /> 
The development will be located across the road from&nbsp;the well-known David Jones Men&rsquo;s Store, which will be redeveloped by CBUS in to a 22-level residential tower at 77 Market Street. Source: City of Sydney

There will be&nbsp;one, two and three bedroom apartments, and a two-level, four bedroom penthouse across levels 15 and 16.

The majority of the units will face the park, with some facing Castlereagh Street and the lower levels facing Elizabeth Street and will contain wintergreens. A landscaped communal open space has been designed above the commercial building at level 10.&nbsp;The roof terrace provides communal facilities including BBQ area, outdoor dining and recreation areas.

<img alt="" height="805" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/castle_3_plan.jpeg" width="1200" /> 
The proposed Elizabeth Street frontage. Source: City of Sydney Council

Fife commissioned the Chippendale-based Tony Owen Partners to prepare the development application. &nbsp;&nbsp;&nbsp;

&ldquo;Whilst the site is tight, the proposal maximises the potential for landscaped are in this small inner city site,&rdquo; the design verification statement&nbsp;read.

Tony Owen Partners designed the 17-storey residential tower The&nbsp;Eliza, which adjoins one of the building&#39;s on Elizabeth Street for the Ceerose Group. 
 
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There was a design advisory panel held between the City of Sydney and Tony Owen Partners&nbsp;in February where issues about the development were discussed&nbsp;and resolved.

Overview of proposal:&nbsp;

&bull; Retention of retail space on the ground floor and basement of Castlereagh St building.&nbsp;

&bull; Retention of the fa&ccedil;ade and majority of building fabric of Castlereagh St building.&nbsp;

&bull; Existing levels of the Castlereagh St building to be refurbished as a commercial building as present.&nbsp;

&bull; Additional levels above the exiting building on Castlereagh St containing residential uses.

&bull; Additional cores and structure if required to support additional built form.&nbsp;

&bull; A new building on Elizabeth Street consisting of residential uses.

The development also located up the road from the soon-to-be-completed Castle Residences, the luxury 131 apartment by Urban Development Sydney which sits at 203 Castlereagh Street.

The Candalepas Associates-designed, 36-level tower, which incorporates hotel suites as well as residential apartments, is set for completion in December.

Urban Development Sydney has just relaunched the $18 million penthouse.

[smartcode_project:default project_id=7758 project_image_fid=150461]

Fife paid $46 million for the two sites in 2020 when buying from the hotelier Kim Maloney, the publican at Hotel Bondi.

Exclusive: Fife Capital lodge Castlereagh Street, Sydney CBD mixed-use apartment and office development

Sydney apartment vendors secured a 70 percent weekend auction success rate with CoreLogic advising almost half the sales were pre-auction.

CoreLogic reported 214 apartment and townhouse sales with 97 finding buyers before auction.

Sydney estate agents secured 52 sales via online auctions given the city being in lockdown.

Some 48 listings were postponed.

CoreLogic calculated a $1.03 million median.

Sydney&#39;s dearest weekend apartment sale was the two bedroom, two bathroom at 161/5 Wulumay Close, Rozelle which sold at online auction for $2.77 million.

<a href="/developments/sydney-nsw?source_news_article_id=104928&amp;ref=news_body_link"><img alt="" height="800" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sydney-cbd-_template_10.jpg" width="1200" /></a>

Balmain Realty agent Scott Robertson marketed the top floor apartment as within &quot;the prized Balmain Cove harbourfront complex ... with exceptional build quality by Walker Corporation.&quot;

There had been a $2.5 million price guide for the refreshed 1999-built apartment with 127 sqm floor space.

It had last sold in 2012 at $1,275,000 and in 2006&nbsp;at $930,000.

It first sold off the plan in 1997 at $695,000.&nbsp;&nbsp; &nbsp;

Sydney was the strongest city with Brisbane seeing a 27 percent success rate for its apartment offerings.

Melbourne&#39;s 285 results saw a 66 percent success rate with a $670,000 median price.

Nationally there were 530 results across all the capital cities with a 67 percent success rate and a $737,000 median price.

CoreLogic advised almost half the Sydney apartment sales were pre-auction

jchancellor

Walker Corp apartment tops weekend auctions with Sydney vendors securing 70 percent success rate

The Greg Shand-owned Barana Group are set to tweak their Kent Street, Sydney CBD mixed-use development.

They&#39;ve submitted a proposal to the City of Sydney Council which would sees the&nbsp;$88 million FJMT-designed tower no&nbsp;longer interconnected along the bottom levels.

Barana now want the towers to stand separately at 189-197 Kent Street. They are also seeking to raise the height of the approved development site to 110 metres from 80&nbsp;metres, as well as bring&nbsp;the north tower height closer to the south tower.

Barana&#39;s wording suggests they aren&#39;t expecting to see the amendment refused,&nbsp;given the development sits within a &#39;tower cluster&#39; area.

<img alt="" height="803" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/barana_2.jpg" width="1200" /> 
The original proposal was for the towers to be interconnected.&nbsp;Image source: City of Sydney

&quot;This &lsquo;amending&rsquo; DA seeks approval for additional height on the southern tower, removal of interconnected massing between the two towers, increased width of the through-site link, increased ground level setbacks to Kent Street, a resultant altered building envelope, and other design minor changes,&quot; the submission read.

&quot;Barana Group seeks to increase the building height of the south tower to meet the street frontage of the southern neighbour. This will allow a more gradual transition from the 80 height of the northern neighbour to the 110 m height of the southern neighbour separated by the through-site link forming a shadow joint.

&quot;These changes have been informed by the Central Sydney Planning Strategy and accompanying amendments to the Sydney Local Environmental Plan 2012, expected to be gazetted in mid-2021, which will increase the height limit for the site to 110m and identify it as being within a &lsquo;tower cluster&rsquo; area.

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&quot;The proposed amendments do not alter the key approved key development metrics, including the number of dwellings, gross floor area and car parking numbers/layout.

There will be 125 apartments across one of the 24 storey towers.

A stage one development application was&nbsp;originally approved in September 2015. Five years later a&nbsp;new stage one development application&nbsp;was approved, superseding the 2014 application approval.

That was modified in December 2020 to reflect the stage two development application design from FJMT, who won a&nbsp;Competitive Design Alternatives Process which was held in accordance with the City of Sydney Competitive Design Policy and Design Excellence Strategy.

FJMT&rsquo;s scheme was selected by the panel as the winning design, beating design entries from Koichi Takada Architects, Woods Bagot and Bates Smart.

Barana's wording suggests they aren't expecting to see the amendment refused, given the development sits within a 'tower cluster' area

Barana Group seek to make mixed-use Kent Street, Sydney CBD tower taller

Crown Group are on the look out for apartment development sites, as the Sydney headquartered developer looks to bulk up its apartment development pipeline for the next five to 10 years.

They&#39;re not limiting their search to opportunities just in the Harbour capital however, with&nbsp;Crown Group Chairman and chief executive Iwan Sunito suggesting they are also looking in Melbourne and Brisbane.

&ldquo;While the international border remains closed, growth will be hampered significantly,&quot; Sunito said, adding that the hampered growth is why they are looking at development deals.

[smartcode_project:default project_id=5763 project_image_fid=56773] 
 
&ldquo;The market is more realistic than three to five years ago as foreign groups and state-owned enterprises have left the market.&nbsp;

&ldquo;The market contracted due to the Government&rsquo;s policy on foreign buyers having to pay double the stamp duty as well as difficulty in finding access to funding.&nbsp;&nbsp;

&ldquo;Covid-19 and the shutdown of the international border also dramatically impacted Australia&rsquo;s residential apartment market, where foreign buyers used to make up at least 50 per cent of purchasers,&rdquo; Sunito noted.&nbsp;

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Despite the international border remaining closed, Crown Group remains confident in the future, based on initiatives such as government stimulus packages such as Jobkeeper which has buoyed Australia&rsquo;s economy.&nbsp;

Sunito compares the stimulus supply offered by the Australian government as similar to the US.

&ldquo;Property prices have risen in the US in the last 12 months, which is not dissimilar to Sydney,&rdquo; Sunito noted.&nbsp;

[smartcode_project:default project_id=7020 project_image_fid=163817]

&ldquo;There is such a shortfall of city apartments. The first home buyer grant really only impacts the house and land market due to the price point. It&rsquo;s barely making an impact in the apartment market as apartments in the inner city are upwards of $1 million.&rdquo;&nbsp;

&ldquo;The city will experience a crisis of supply which will in turn push the price growth even further in inner city apartment developments,&rdquo; Sunito said.

Crown are currently marketing two inner city Sydney projects, the luxury Waterfall by Crown at Waterloo, completed in late 2019 shortly before COVID hit, and the nearby Mastery by Crown which will be Australia&#39;s first Japanese-themed community.

Designed by acclaimed Japanese architect Kengo Kuma in collaboration with&nbsp;Koichi Takada&nbsp;Architects and Silvester Fuller, the masterplanned community will have five&nbsp;uniquely designed and distinct residential buildings positioned above a 2,175&nbsp;sqm&nbsp;retail precinct which will home&nbsp;27 stores and a new&nbsp;Japanese eat street.

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“While the international border remains closed, growth will be hampered significantly," Sunito said

Crown Group look to expand apartment development pipeline, weighing up opportunities in Sydney, Brisbane and Melbourne 

Sales of trophy apartments continued in Sydney despite the elevated lockdown restrictions.

There was a $3.3 million sale of a two bedroom, two bathroom apartment in Harry Seidler&rsquo;s Horizon building.

The panorama includes Sydney&rsquo;s Harbour, Bridge, Opera House, and the CBD skyline from its 23rd floor.

It sold in February 2020 at $2.4 million.

It was sold by Richardson &amp; Wrench Elizabeth Bay.

There were 685 auction results for apartments and townhouses across the capital cities over the past week, with a 68 percent success rate, according to CoreLogic.

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Sydney had 79 percent success rates for the 291 apartment auctions.

Melbourne had a 63 percent success rate from 343 apartment and townhouse offerings, on what was Melbourne&#39;s second busiest weekend this year.

Melbourne&#39;s top apartment sale was $1.68 million in Port Melbourne.

The three bedroom apartment has views across the waters of Port Phillip Bay spanning from Williamstown, past St.Kilda and down towards the Mornington Peninsula.&nbsp;

It last sold at $935,000 in 2007.

The complex has an in-ground swimming pool and a gymnasium.

There was a $3.3 million sale of 2302/184 Forbes Street, Darlinghurst on the weekend

$3.3 million Horizon, Darlinghurst trophy apartment tops weekend sales

Like many other Sydney display suites, the Pavilions display suite is closed.

However the &nbsp;Mirvac sales office at Sydney Olympic Park is open by virtual appointment due to the current Covid-19 restrictions.

Buyers have been told the actual sales office is currently closed until Saturday 10th July pending State Government restrictions.

The project has 1, 2 or 3 bedroom apartments, plus skyhomes and terrace for sale.

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The display suite at Portman House, Green Square, Australia’s first residential building to seek WELL v2 certification, is also available via virtual appointment.

At Bondi Junction, the developer Lindsay Bennelong is open but by private appointment only at its Whitton Lane project.

"Due to Covid restrictions only one on one private appointments can be conducted," it has advised.

"Please wear a mask and we adhere to social distancing regulations," it noted.

The Adela, Burwood display suite of Aoyuan International is advised as "closed during lockdown - till further notice."

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Meriton advises "due to temporary COVID restrictions private appointments and virtual appointments are now available between 10am – 5pm 7 days a week" at its Pagewood Green Orchid display suite.

Atelier, the Ceerose project at 32 Jarret Street, Leichhardt, advises its buyers that it was "continuing to closely monitor the ongoing COVID-19 situation, with the health and well-being of our customers and staff as a top priority."

"To maximise precautions, and in the interest of your safety all inspections have been moved to private appointments.&nbsp;

"Should you visit there will be some screening questions we’ll need to ask you in addition to practicing safe social distancing guidelines including observing a distance of 1.5m between people and limiting numbers to 3 people per appointment."

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The severest closure came when Melbourne developers saw their display suites closed for two months until late October last year with the lifting of pandemic restrictions on open inspections.

Last week the RBA lauded apartment developers using virtual walk-throughs in place of in-person inspections since the pandemic hit the country early last year.

The reference to property development firms using virtual walk-throughs came in a speech from RBA assistant governor Luci Ellis.

Frasers Midtown sales and display centre at Macquarie Park remains open according to its website marketing, but by appointment only.&nbsp;

"Like our team, we request you practice good hand hygiene, wear an approved face covering and maintain physical distancing, by keeping 1.5m away from others.

"Our sales team are also available via phone, video and email according to your preferences, so we can safeguard the health of our customers and staff," its website advised.

The Real Estate Institute of NSW CEO Tim McKibbin noted while the operating environment for agents and consumers is temporarily interrupted, he said the fundamentals remain largely unchanged.&nbsp;

"Demand still outstrips supply and prices can be expected to remain strong, though the pace of growth has naturally eased," he said.

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The Pavilions display suite is closed at 2 Figtree Drive, Sydney Olympic Park but virtual inspections are underway

Mirvac among Sydney developers who've pivoted to virtual appointments during COVID lockdown

Birmingham, one of the boutique building&#39;s in Alexandria&#39;s Alex Collective in inner-Sydney, saw stellar sales at its launch at the weekend.

Around 40 per cent of the 46 apartments available sold through Colliers, with sales ranging from $770,000 to $2.1 million.

Owner-occupiers were the keenest of buyers, Colliers director of residential Daniel McMahon says.

&quot;Alex Collective&rsquo;s distinctive design features including intricate brick fa&ccedil;ade, large bay windows, environmentally-friendly features and recreational amenity have captured the attention of owner occupiers.

&nbsp;

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&quot;Buyers have recognised that alternative product in the market does not match the premium quality of Alex Collective&rsquo;s apartments.

&quot;Discerning purchasers are looking for a city-fringe apartment that is within easy reach of the CBD and also boasts a lifestyle that is social and active.

The apartments are part of The Birmingham, one of four apartments buildings that make up the 163-apartment development&nbsp;Alex Collective at 163-173 McEvoy Street, created in partnership between Ceerose and Alexa Development.

[smartcode_project:default project_id=29785 project_image_fid=91571]

Designed by architect Andrew Burns, The Birmingham features saw-tooth roofs, light wells and sky bridges.

McMahon says there&nbsp;is limited availability of quality apartments currently available for purchase around the city fringe.

&quot;Alexandria has always been a highly sought-after location with strong demand for warehouse style apartments in this historical industrial-aged location.

[smartcode_project:default project_id=29785 project_image_fid=91605]

&quot;Price growth in some areas of the suburb have witnessed a 15 per cent growth surge within the last 12 months, which will only continue with infrastructure investment that is planned in the area.

&nbsp;&ldquo;Projects that offer a high-quality product in tightly held locations, supported by developers and builders with a strong track record of delivering quality developments are achieving strong sales results. Ceerose has ticked all these boxes with Alex Collective, which is resulting in consistent sales each week.&quot;

The upper level residences in Birmingham will have views toward the city skyline, Sydney Park and Alexandria&#39;s streetscapes. There are a number of private courtyard apartments, oriented to the north to maximise sunlight.

Edward Doueihi, Managing Director of Ceerose, says Alex Collective links Alexandria&nbsp;across a century of change.

&quot;The boutique development will deliver beautiful tailor-made homes with an industrial spirit, created with discerning owner-occupiers in mind.

&quot;Ceerose aims to create a benchmark for Alexandria and leave a legacy for the suburb and future generations.&rdquo;

Owner-occupiers were the keenest of buyers, Colliers director of residential Daniel McMahon says

Birmingham, Alexandria apartments fly off the shelves at weekend launch

The Greater Sydney apartment pipeline is tipped to plunge by 2024, with the 36,275 new apartment developments to be completed over the next three years, well below the 67,925 recorded in the prior 2018-20 period.

The major decline has been revealed in Knight Frank Research&rsquo;s Australian residential development review 2021, which tips a 47 percent decline.

&ldquo;Limited new apartment project launches in recent years have highlighted the supply issues ahead for Sydney with decade low levels of new supply in the pipeline,&quot; said Knight Frank&rsquo;s head of residential research, Michelle Ciesielski.

She also noted as developers commence construction, &quot;they&rsquo;re likely to feel the pinch from rising building costs and sourcing labour with limited migration and competition from a mammoth pipeline of state and federal government infrastructure projects being fast-tracked.&quot;

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&ldquo;With an increased reliance on sub-contractors, there is also competition coming from those dabbling in home renovation post lockdown.&rdquo;

Despite a weakening apartment market, NSW has for the 9th straight year maintained its position as the nation&rsquo;s leader for developer&rsquo;s expanding their sites portfolio, accounting for almost half of all sales in Australia last year.

Of the $4.1bn of total residential development site sales recorded nationwide in 2020, Sydney accounted for $1.97bn which was above Victoria ($1.29bn), Queensland ($642m) and Western Australia ($84.8m).

While high-density apartments made up the majority of total Sydney residential development sales ($1.3bn in 2020), Sydney also experienced a significant increase in low-density developments.&nbsp;

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Last year, 27.6% of development sites purchased across Greater Sydney were suitable for low density development,which was almost double the 14.2% share of low-density developments recorded in 2019.

Overall, a total of 8,280 new single allotments were released across Greater Sydney in 2020, up 70.4% on 2019, while low-density building approvals grew by 7.5%, with 26,483 single dwellings.

Despite the trend away from high-density projects in Greater Sydney, Knight Frank noted there were developers making longer term plans for this product with a rapid rise in collective site developments &ndash; considered those with the potential for residential development and including more than one vendor&ndash;with GreaterSydney recording $474.7m of sales in 2020.&nbsp;

The investment being made in collective site developments in Sydney is the highest among all capital cities.

Knight Frank&#39;s Head of Investment Sales in NSW, Grant Bulpett said: while HomeBuilder has lured first home buyers to the low-density market, many developers were already seeking longer term plays with significant englobo parcels being purchased in recent years.

&ldquo;This gives these developers options to subdivide, then turn the tap on and off to meet market demand.

&ldquo;With strong off the plan sales, low-density developers in Sydney are certainty operating in a low risk environment, however the increases in contributions and delay in service delivery in emerging markets is proving difficult to navigate.&rdquo;

&ldquo;With the residential market heating up, many developers are favouring development approved sites to get their project sales moving and capitalise on the current demand.&rdquo;

Despite the trend away from high-density projects in Greater Sydney, Knight Frank said there were developers making longer term plans

Upcoming three-year pipeline of new Sydney apartments sees a significant drop: Knight Frank

One of the penthouses in the Sirius building at The Rocks has been sold to a $19 million buyer from Coogee, setting a new high for Sydney&rsquo;s luxury apartment market of more than $118,000 a square metre.

A larger $35 million penthouse sale equates to $112,000 a square metre, when the 311 square metre space on top of the original brutalist building sold off the plan for $35 million yesterday to a buyer from Point Piper.

<img alt="" height="850" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/sirius_2.jpg" width="1200" />

The apartments were sold through Ben Stewart and the CBRE chairman Justin Brown.

The remaining seven penthouses and 67 pod style apartments will be offered for sale this Saturday.

The boutique development will have a dress circle position overlooking the harbour and Opera House.

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The developer JDH Capital is headed by the former Macquarie banker Jean-Dominique Huynh, who commissioned Australian firm BVN to designed the 76 luxury apartments within and atop of the original building.

Prior record prices per square metre include sales in the Opera complex, just across Circular Quay, that fetched a&nbsp;record-setting $96,400 per square metre off the plan in late 2016.&nbsp;

The state government sold the site for $150 million with the building designed in the late 1970s by architect Tao Gofers for the NSW Housing Commission.

&nbsp;

A buyer from Coogee set a new high for the luxury apartment market of more than $118,000 a square metre

Sirius penthouses selling for up to $118,000 per square metre in The Rocks

The Sydney developer ALAND has seen a flurry of sales at two of their Greater Western Sydney developments, as investors continue to&nbsp;look away from the regional areas and invest closer to the city.

ALAND&#39;s Greater Western Sydney projects Schofield Gardens in Schofields, near Kellyville,&nbsp;and their Liverpool development Hoxton, have seen a sharp increase in investor demand.

Data from My Housing Market found that area&#39;s such as Wollongong to the south of Sydney and Newcastle and Central Coast to the north see rental yields in the mid three percent range, when calculating the area&#39;s median property price and median rental price.

ALAND&#39;s Schofield Gardens development has investors seeing gross rental yields topping 4.7 per cent.

[smartcode_project:default project_id=29042 project_image_fid=165529]

&ldquo;What Sydney property investors don&rsquo;t realise is that they can make much more money in their own backyard than they can in regional areas, while taking advantage of what will probably be much higher capital gains,&rdquo; ALAND sales director Mark Bernberg said.

&ldquo;Sydney&rsquo;s western suburbs are ripe with investment opportunities and no shortage of rental demand.

&quot;Investing in a freshly-built apartment saves many headaches as well, with next to no maintenance required for the first few years of its life.&rdquo;

Schofield Gardens will home one-, two- and three-bedroom apartments on Grima Street, opposite Schofield&#39;s Woolworths and train station.

[smartcode_project:default project_id=29042 project_image_fid=165522]

Prices at Schofield Gardens start from $450,000 for a one-bedroom apartment with parking. Two beds are priced from $550,000 and three-bedroom apartments from $699,000. Completion is slated for mid-2022.

The Schofields Precinct was rezoned by the NSW government in 2012 and new planning controls were put in place to allow for urban development, which the government said at the time would include nearly 3,000 new homes.

ALAND are also seeing investor demand creep back in to their Liverpool apartment tower The Hoxton.

The 32-level tower in the heart of Liverpool, again a short walk from the closest train station, will home 331 apartments.

[smartcode_project:default project_id=9198 project_image_fid=164866]

One bedders in The Hoxton start from $480,000, two-bedroom apartments from $523,000 and three bedroom apartments from $677,000. ALAND also have a mid-2022 completion for The Hoxton.

In 2019, the NSW Government said that population growth for the Liverpool area was expected to increase 26 per cent over the next decade.&nbsp;

The increase in investors in Greater Sydney comes after Knight Frank Research Australian residential development review 2021 found that the&nbsp;Greater Sydney apartment pipeline is tipped to plunge by 2024 by nearly 50 per cent.

The 36,275 new apartment developments to be completed over the next three years are set to be well below the 67,925 recorded in the prior 2018-20 period.

ALAND's Greater Western Sydney projects Schofield Gardens in Schofields, near Kellyville, and their Liverpool development Hoxton, have seen a sharp increase in investor demand

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